ISOM 300 TEST 1 WITH ALL CORRECT & 100% VERIFIED
ANSWERS|ACTUAL COMPLETE EXAM|ALREADY
GRADED A+
What is a project? ✔Correct Answer-A temporary endeavor undertaken to create a unique
product, service, or result.
What are the main characteristics of a project? ✔Correct Answer-- an established objective
- defined life span with a beginning and an end
- usually, it has interdisciplinary involvement
-typically doing something new
- specific time, cost, and performance requirements
what are the 5 main project process groups (also known as project phases)? ✔Correct Answer--
Initiating
- Planning
- Executing
- Monitoring
- Closing
Scope Statement ✔Correct Answer-Planning process
Project Charter ✔Correct Answer-Initiating process
Analysis of project progress comparing cost baseline vs actual expenditure ✔Correct Answer-
Monitoring process
Stakeholder register ✔Correct Answer-Initiating process
What are the three groups/types of skills a Project manager should have? ✔Correct Answer--
technical project management
- leadership
- strategic & business management
What is an Agile project management approach? ✔Correct Answer--Deliver to customer ASAP
-Iterative: allows feedback on unfinished work
- Incremental: create deliverables throughout
What is a traditional project management approach? ✔Correct Answer--Plan project in detail in
the beginning
-Deliver entire project to customer at end
What is the difference between traditional and agile approach? ✔Correct Answer-Agile wants to
get product to customer as fast as they can. Traditional approach allows the project to be fully
completed before delivering to the customer.
What are the 3 organizational structures? ✔Correct Answer-functional, project, matrix
, In which organizational structure does the project manager have a higher level of authority?
✔Correct Answer-project organization
In the matrix organizational structure does the functional manager have authority? Does the project
manager have authority? ✔Correct Answer-yes, and no
This company requires the independent development of each project. However, for an efficient work
the company should have different departments that are managed by their own functional
managers. What is the organizational structure of this company? ✔Correct Answer-matrix
organization
Stakeholder ✔Correct Answer-Individuals and organizations that are actively involved in a project,
or whose interests may be positively or negatively affected as a result of project execution or
completion. They may also exert influence over the project and its results.
What do you calculate with net present value ✔Correct Answer-uses desired rate or return to
compute the present value of net cash flows
What do you calculate with the payback method ✔Correct Answer-measures the time to recover
the project investment. (most used model)
What are the 2 main outcomes (documents) of the initiating process? ✔Correct Answer-project
charter, stakeholder register
When is stakeholders influence highest in the project? ✔Correct Answer-danger zone- targeted
communication
When is it more expensive to make changes in the project? ✔Correct Answer-as the project time
increases
What are the main objectives of developing a project charter ✔Correct Answer--Project
Authorization
-Commits funding
-Project authority/responsibilities
-Main stakeholders
-Summarizes key conditions
What information is in the stakeholders register? ✔Correct Answer-determines what is
communicated
What are the characteristics of an objective? ✔Correct Answer-S- Specific
M- Measurable
A - Attainable
R - Realistic
T - Target date or timeline
What is the difference between a project milestone and a project deliverable? ✔Correct Answer-A
milestone is a checkpoint that is usually identified by a specific date. Deliverables are the pieces of
work that you submit throughout the project.
ANSWERS|ACTUAL COMPLETE EXAM|ALREADY
GRADED A+
What is a project? ✔Correct Answer-A temporary endeavor undertaken to create a unique
product, service, or result.
What are the main characteristics of a project? ✔Correct Answer-- an established objective
- defined life span with a beginning and an end
- usually, it has interdisciplinary involvement
-typically doing something new
- specific time, cost, and performance requirements
what are the 5 main project process groups (also known as project phases)? ✔Correct Answer--
Initiating
- Planning
- Executing
- Monitoring
- Closing
Scope Statement ✔Correct Answer-Planning process
Project Charter ✔Correct Answer-Initiating process
Analysis of project progress comparing cost baseline vs actual expenditure ✔Correct Answer-
Monitoring process
Stakeholder register ✔Correct Answer-Initiating process
What are the three groups/types of skills a Project manager should have? ✔Correct Answer--
technical project management
- leadership
- strategic & business management
What is an Agile project management approach? ✔Correct Answer--Deliver to customer ASAP
-Iterative: allows feedback on unfinished work
- Incremental: create deliverables throughout
What is a traditional project management approach? ✔Correct Answer--Plan project in detail in
the beginning
-Deliver entire project to customer at end
What is the difference between traditional and agile approach? ✔Correct Answer-Agile wants to
get product to customer as fast as they can. Traditional approach allows the project to be fully
completed before delivering to the customer.
What are the 3 organizational structures? ✔Correct Answer-functional, project, matrix
, In which organizational structure does the project manager have a higher level of authority?
✔Correct Answer-project organization
In the matrix organizational structure does the functional manager have authority? Does the project
manager have authority? ✔Correct Answer-yes, and no
This company requires the independent development of each project. However, for an efficient work
the company should have different departments that are managed by their own functional
managers. What is the organizational structure of this company? ✔Correct Answer-matrix
organization
Stakeholder ✔Correct Answer-Individuals and organizations that are actively involved in a project,
or whose interests may be positively or negatively affected as a result of project execution or
completion. They may also exert influence over the project and its results.
What do you calculate with net present value ✔Correct Answer-uses desired rate or return to
compute the present value of net cash flows
What do you calculate with the payback method ✔Correct Answer-measures the time to recover
the project investment. (most used model)
What are the 2 main outcomes (documents) of the initiating process? ✔Correct Answer-project
charter, stakeholder register
When is stakeholders influence highest in the project? ✔Correct Answer-danger zone- targeted
communication
When is it more expensive to make changes in the project? ✔Correct Answer-as the project time
increases
What are the main objectives of developing a project charter ✔Correct Answer--Project
Authorization
-Commits funding
-Project authority/responsibilities
-Main stakeholders
-Summarizes key conditions
What information is in the stakeholders register? ✔Correct Answer-determines what is
communicated
What are the characteristics of an objective? ✔Correct Answer-S- Specific
M- Measurable
A - Attainable
R - Realistic
T - Target date or timeline
What is the difference between a project milestone and a project deliverable? ✔Correct Answer-A
milestone is a checkpoint that is usually identified by a specific date. Deliverables are the pieces of
work that you submit throughout the project.
